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Small States

Economic Review and Basic Statistics, Volume 19

image of Small States

This unique annual collection of key economic and statistical data on states with fewer than five million inhabitants is an essential reference for economists, planners and policy-makers working on issues of concern to small states. This volume contains 17 tables covering development indicators and an article focusing on climate change impacts, adaptation and policies for agriculture in African small states.

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Outlook

Looking forward to 2016–17, prospects for the global economy remain subdued. The World Bank’s June 2016 forecasts project that the rate of global growth in 2016 will remain unchanged from the previous year, at 2.4 per cent, and start to pick up thereafter, to 2.8 per cent in 2017 and 3.0 per cent in 2018 (World Bank 2016a). Growth in major economies is expected to stabilise around a weak trajectory, from 1.7 per cent in 2016 to 1.9 per cent in 2017 and 2018, while weakness in emerging-market and developing economies is likely to persist, with growth rates below 5 per cent (World Bank 2016a). However, the highly unexpected and unprecedented result of the UK’s referendum on membership of the European Union (EU) – the decision to leave the EU, popularly known as Brexit – is likely to significantly alter the forecasts to the downside.

English

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